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CAPT

Captivision Inc.

CAPT

Captivision Inc. • NASDAQ
$0.81 ▲ 0.42% (+0.00)
Market Cap $26.54 M
52w High $1.94
52w Low $0.37
Dividend Yield 0%
P/E -0.28
Volume 149.40K
Outstanding Shares 32.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2024 $15.316M ▲ $16.066M ▲ $-9.046M ▲ -59.062% ▲ $-0.32 ▲ $-7.178M ▲
Q4-2023 $2.075M ▼ $10.351M ▲ $-75.647M ▼ -3.646K% ▼ $-4.105 ▼ $-13.677M ▼
Q2-2023 $12.562M ▲ $4.966M ▲ $920.542K ▲ 7.328% ▲ $0.055 ▲ $2.656M ▲
Q4-2022 $0 $1.573M ▲ $403.926K ▼ 0% $0.015 ▼ $458.806K ▼
Q2-2022 $0 $598.918K $7.318M 0% $0.24 $7.49M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2024 $667.288K ▲ $26.326M ▲ $80.617M ▲ $-51.467M ▼
Q4-2023 $476.715K ▲ $21.517M ▼ $67.895M ▲ $-44.003M ▼
Q2-2023 $73.625K ▼ $45.586M ▲ $38.558M ▲ $7.599M ▲
Q4-2022 $196.627K ▼ $36.624M ▼ $33.908M ▲ $2.777M ▼
Q2-2022 $894.936K $236.873M $11.675M $225.198M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2024 $-9.046M ▲ $-4.621M ▼ $7.996K ▼ $4.814M ▲ $95.286K ▼ $-4.634M ▼
Q4-2023 $-75.647M ▼ $-4.128M ▲ $722.092K ▲ $3.811M ▼ $280.088K ▲ $-4.158M ▲
Q2-2023 $920.542K ▼ $-6.351M ▼ $-424.182K ▼ $6.701M ▲ $-61.5K ▲ $-6.513M ▼
Q4-2022 $2.941M ▲ $60.554K ▲ $0 ▲ $-193.389K ▼ $-132.835K ▼ $60.554K ▲
Q2-2022 $-1.389M $-1.298M $-234.6M $237.015M $1.117M $-1.298M

Five-Year Company Overview

Income Statement

Income Statement Captivision is still at a very early commercial stage. Revenue over the past few years has been tiny and not yet at a level that can support the cost base. The company has reported operating losses in each year shown, with net losses widening most recently. In plain terms, the business is still heavily in “build and prove” mode, not yet in “scale and earn” mode. Profitability will depend on whether it can turn its technology and showcase projects into a larger, steadier stream of commercial contracts at better margins.

Balance Sheet

Balance Sheet The balance sheet looks thin and stressed. Total assets are modest, cash is essentially absent, and the company carries debt. Shareholder equity has moved into negative territory, which means obligations outweigh recorded assets. This profile suggests limited financial cushion and a dependence on lenders or new capital injections to keep funding operations. Any setbacks in project timing or revenue growth could put additional pressure on the company’s financial position.

Cash Flow

Cash Flow Cash flow from operations has been negative, reflecting ongoing losses and the cost of running the business ahead of scale. Free cash flow is also negative, though capital spending appears very light, consistent with a move toward an asset‑light model. In practical terms, the business is burning cash without generating meaningful internal funds, so it remains reliant on external financing until it can grow revenue and improve margins.

Competitive Edge

Competitive Edge Captivision occupies a specialized niche at the intersection of building materials and digital displays. Its G‑Glass product and track record on landmark projects give it differentiation and some first‑mover advantages in architectural media glass. Partnerships, such as with digiLED, extend its reach into sports, entertainment, and high‑profile commercial venues. However, the company is small relative to global LED and building‑technology players, project work can be lumpy, and its financial weakness reduces its flexibility. The moat is based on know‑how, references, and IP, but it is not yet backed by the scale or financial strength of larger competitors.

Innovation and R&D

Innovation and R&D Innovation is the main asset of the company. G‑Glass effectively turns glass surfaces into transparent digital screens, combining aesthetics, durability, and potential energy benefits. This offers building owners a way to turn facades into media and advertising platforms, which is a clear commercial angle. The strategic shift to an asset‑light model suggests R&D and design, rather than heavy manufacturing, will be at the core of future value. Continued progress in improving the technology, broadening the product range, and protecting intellectual property will be critical. The risk is that, without stronger finances, it may be harder to sustain high levels of R&D or defend its lead against better‑funded rivals.

Summary

Captivision is a high‑concept, early‑stage industrial technology company with a distinctive product and some eye‑catching reference projects, but a fragile financial base. The income statement shows persistent losses on very small revenue, the balance sheet shows negative equity and no real cash cushion, and cash flows are negative, pointing to ongoing reliance on outside funding. On the strategic and technology side, the story is more promising: a differentiated offering, a clear use case, partnerships to reach growth markets, and a move to an asset‑light, solution‑focused model. The core question is whether the company can scale its commercial footprint and improve profitability fast enough to overcome its financial constraints and turn its innovation leadership into a sustainable, self‑funding business.

NEWS

November 21, 2025 · 4:30 PM UTC

Captivision, Inc. Announces Continuing Strategic Transformation and Management Change

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November 12, 2025 · 4:30 PM UTC

Captivision Granted 180 Days to Address Nasdaq Deficiency Notices

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